Ohio man makes $100K a year but has $65K debt because money "trickles out." Ramsey Show hosts don't buy it

Core Insights - The article highlights the paradox of high earners struggling with significant debt, exemplified by an individual named Lance who earns $100,000 annually yet faces $65,000 in debt [1][3] Group 1: Individual Case Study - Lance's monthly income is $8,000, but he is burdened by $1,400 monthly rent and substantial debt from a truck and motorcycle, totaling $55,000 of his $65,000 debt [2][3] - The financial advice given to Lance includes selling his truck and motorcycle to alleviate his debt burden, emphasizing the need for better financial management [3] Group 2: Broader Financial Context - A survey by BHG Financial indicates that 62% of individuals earning $300,000 annually struggle with credit card debt, suggesting that high income does not equate to financial stability [4] - As of June 2025, total consumer debt in the U.S. reached $18.33 trillion, with millennials averaging $132,280 in debt and Gen-Xers holding the highest average at $158,105 [4] - By 2024, Americans were paying an average of $1,224 monthly towards debt, with mortgages being the largest component, followed by auto loans and personal loans [5]